Maxine is correct about the way which this development has skewed the incentives which young talented people face (as a college student I have firsthand knowledge of this, the vast majority of people want to go into banking, consulting, or another part of the financial sector).

Maxine is thinking of all those bright, young, energetic people who came out of some of our best universities and opted to go to work for investment banks, not in technical jobs, but as traders, ratings specialists, analysts, again to support the conversion of trillions of dollars into chaff.